Details

Summary

Decentralized key/value registration and transfer system based on Bitcoin technology

Description

Namecoin can be used for multiple purposes, for example a secure and censorship resistant replacement for DNS.

Ownership of a name is based on ownership of a coin, which is in turn based on public key cryptography. The namecoin network reaches consensus every few minutes as to which names have been reserved or updated.

Namecoin was the first fork of Bitcoin and still is one of the most innovative altcoins. It was first to implement merged mining and a decentralized DNS.